Global Vitrified Tiles Market 2017-2021
Overview of the vitrified tiles market
According to the market research analysts at Technavio, the global vitrified tiles market is anticipated to witness steady growth and will post a CAGR of around 4% during the predicted period. A considerable growth in the construction sector is one of the major factors driving this market’s growth. Construction of both residential and non-residential buildings has a direct impact for vitrified tiles, as they are used to cover floors and walls of the buildings. They are frequently adopted as an alternative to marble and granite flooring. The population boom along with declining interest rates has propelled the housing market in various countries. Also, rising incomes from the economic growth have boosted the housing and construction market in various countries, which will, in turn, propel the growth of the vitrified tiles market over the coming years.
One of the recent trends gaining significant traction in the market is the increasing deployment of new technologies in manufacturing vitrified tiles. Most manufacturers are coming up with new technologies both in terms of the production process and new product features to stay ahead of the competition, owing to high demand and fierce competition. The vitrified tiles manufacturers are incorporating new and advanced technologies such as 3D printing, digital printing, anti-microbial glazes, nanotechnology, and water jet technology into their production processes. Digital printing technology helps in enhancing the colors of tiles, whereas anti-microbial technology is applied to tiles to reduce the bacterial growth on the surface of tiles. With the advent of smart homes various new innovative thermal tile solutions such as warmth generating, energy saving, and cooling tiles are being adopted, especially in the residential sector, which will contribute to this market’s growth during the predicted period.
Competitive landscape and key vendors
The global vitrified tiles market is highly fragmented owing to the presence of several well-established and unorganized vendors. Vitrified tile manufacturers are investing heavily in new product development to produce exclusive designs based on consumer tastes and preferences, leading to intense competition among vendors. Also, the vendors are deploying new techniques like replacing oil-based fuels with LPG or natural gas to reduce the carbon footprint during the manufacturing process. Therefore, established manufacturers are setting new benchmarks for small vendors in terms of efficiency, quality, and design.
Key vendors in this market are -
- Cerâmica Carmelo Fior
- Mohawk Industries
- Ras Al Khaimah (RAK) Ceramics
Some of the other prominent vendors in the market are ABK, Altaeco, PT Arwana Citramulia, Ascot Group, Asian Granito India, Bell Granito Ceramica, Casalgrande Padana, CELIMA TREBOL, Ceramic Industries, Ceramiche Castelvetro, Cerindustries, Building Materials Group, Ceramiche Coem, Concorde Group, Cooperativa Ceramica d’Imola, Marca Corona, Crossville, Del Conca Group, DYNASTY Ceramic Public Company, Eagle Roofing Products, Emilgroup, Fiandre Group, Iris Ceramica, Fincibec Group, FinFloor, Florida Tile, Florim, Gambini, Gold Art Ceramica, GRANITO FORTE, GRESMALT, CEDASA, Fragnani, Guangdong Bode Fine Building Material, Dongpeng, Guangdong Jiajun Ceramics, Guangdong Winto Ceramics, H&R Johnson, Ceramiche Piemme, Interceramic, Internacional De Ceramica, Iris Ceramica, ITALGRANITI, Foshan Jinduo Ceramic, Kajaria Ceramics, Kale Group, Keraben, LA Fabrica, Laminam, LASSELSBERGER, Marbomax, Marco Polo, Monalisa, MULIA, Murudeshwar Ceramics, Hangzhou Nabel Group, New Pearl, NITCO, Novabell Ceramiche Italiane, Opera Group, Orient Bell, Pamesa Cerámica, Panaria, PORCELANOSA, Portobello, Prism Cement, Ricchetti Group, Roca, Romani Group, Rondine, ROVESE, Saudi Ceramics, Savoia Canada, Simpolo, Somany Ceramics, StonePeak, Sunheart, Swastik, Tidy, Varmora, Vitromex, White Horse, and Sichuan XINZHONGYUAN Ceramic.
Segmentation by end user and analysis of the vitrified tiles market
During 2016, the residential segment accounted for the majority of market shares and will continue to lead the market until the end of 2021. The residential sector includes apartments, individual houses, and high-rise buildings, therefore, the demand for ceramic tiles in the residential sector is quite high compared with other sectors. Moreover, it has been observed that consumers are paying a great deal of attention to home interiors because of the sharp increase in disposable incomes, rise in urban population, and a growing middle class population, which will also boost the sales of vitrified tiles in the coming years.
Geographical segmentation and analysis of the vitrified tiles market
In terms of geography, the APAC region was the highest revenue generating region in the market and will continue to dominate the market until the end of 2021. The growth of this market in APAC is attributed to the increase in construction activities owing to the rising demand for new residential buildings in the region. Moreover, the governments of India, China, Malaysia, and Indonesia are investing heavily in infrastructure development such as the construction of new airports and railways. The large-scale investment in the construction and modernization of airports will also fuel the demand for ceramic tiles in APAC over the next four years.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global vitrified tiles market?
- What are the key market trends impacting the growth of the global vitrified tiles market?
- What are the challenges to market growth?
- Who are the key vendors in the global vitrified tiles market?
- What are the market opportunities and threats faced by the vendors in the global vitrified tiles market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global vitrified tiles market?
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